Welcome to the Beijing Hour, coming to you live from the Chinese Capital.

Coming up on our program this morning...

A number of people are being detained in connection with the recent downturn in the Chinese stock markets.

Chinese lawmakers are reviewing a new report into water protection across the country.

Massive demonstrations have taken place in Tokyo connected with the government's new defense policies.

In Business... around 7-billion US dollars worth of shares are set to become tradable later this morning on the mainland markets.

In Sports... This year's IAAF Championships here in Beijing have come to an end.

In entertainment..... this year's Miss Hong Kong has been crowned.

Top NewsJournalist, securities regulatory official held for stock market violationChinese authorities are holding several people in custody for alleged stock market violations.

One of them is Wang Xiaolu, a journalist with Chinese business publication Caijing Magazine.

He has been placed under "criminal compulsory measures" for allegedly spreading fake information on the securities and futures market.

Liu Shufan, an official with the China Securities Regulatory Commission, is also being held on allegations of insider trading, bribery and forging official seals.

Authorities are also holding four senior executives with CITIC Securities for suspected insider trading.

At the same time, Chinese authorities have also leveled punishments on nearly 200 people for spreading rumors about the stock market, the explosions in Tianjin and the upcoming commemorations of the 70th anniversary of the end of World War II.

Back to school after Tianjin's deadly blastsSchools in Tianjin's Binhai New Area, the district where this month's deadly explosions took place, are set to open today for the autumn semester on-time.

The district government says registration work on the schools damaged in the August 12th blasts is now complete.

A total of 16 schools were damaged in the massive blasts.

Meanwhile, the official death toll from the explosions has been shifted up to 150.

23 others are still listed as missing.

367 people remain in hospital, including 20 in critical or serious condition.

The explosions at the Port of Tianjin is one of China's worst industrial accidents in years.

At least 11 government officials have been detained and face charges of dereliction of duty and abuse of power.

A dozen people connected to the company which owns the warehouse at the center of the blast are also facing charges.

China to Quicken Steps of Prevention, Control of Water PollutionAnchorA new report has been put under review by Chinese lawmakers connected to water pollution.

CRI's Yu Yang has more.

ReporterThe report, the Water Pollution Prevention and Control Law, has been reviewed by the National People's Congress.

Vice-Premier Wang Yang is among those who have gone over the potential amendments to the legislation.

He says protecting China's water is going to be part of the forthcoming 5-year plan, and will be part of new industrial, investment, financial and tax policies.

"We need to transform our development strategies to better defend against water pollution. We are going to set up a system through which the water, as well as the rivers and lakes which hold the water, will be inspected and evaluated so that we can have advanced warnings about issues."Wang Yang also says the State Council also plans to add amendments to the legislation to ensure officials are held accountable.

"We need to prioritize a system of objective assessment tools for local officials. Local governments will have to bare the legal liability for the quality of water in their area."Environmental Protection Minister Chen Jining says their new plan is a multi-step approach.

"The 'ten-step' water plan was officially launched this April. It focuses on several areas, including an adjustment to the industrial structure, optimizing the available space and scientific and technological advancements. There are a total of 238 specific measures in the plan. Among them, 105 are precautionary measures. We hope the precautions will be the focus when the plans are implemented."The new amendments to the legislation are also expected to cover sewage issues, particularly in rural areas.

Housing and Urban-Rural Development Minister Chen Zhenggao says this is also going to be addressed in the forthcoming 5-year plan.

"We plan to continue our efforts to put the Water Pollution Prevention and Control Law into practice. We have three things to do. The first is to set clear objectives and work hard to solve the problem within the 13th five-year-plan period. Second is to help local governments raise money. Third, we are going to ensure local governments keep to a schedule."The analysis shows that drinking water resources in nearly 85-percent of cities across China currently meet nationwide standards.

For CRI, I'm Yu Yang.

Part III –Memories of Blood and TerrorAnchorAhead of this week's commemorations of the 70th anniversary of the end of the War of Resistance against Japanese Aggression, we're bringing you the latest in a series of reports on the war itself.

In this edition, CRI's Xiao Yi has more on some of the horrors Chinese people had to face while Japanese forces attempted to take control of the country.

ReporterIn the freezing winter of 1937, the Japanese army captured Nanking, today's Nanjing, and started a 40-odd-day massacre. Within just six weeks, the then Chinese capital became a city of terror where 300-thousand innocent lives perished in slaughter.

American missionary John Magee was in NanKing when the massacre took place. He secretly filmed the killings and later presented the film as his testimony during the International Military Tribunal for the Far East in 1946.

Magee described the murders as a witness at the Tokyo Trial.

Prosecutor: "What was the action of Japanese soldiers towards the civilian Chinese men after they had possession of the city of Nanking on December 13, 1937?"John Magee: "The killing began immediately in several ways, often by individual Japanese soldiers or up to thirty soldiers together going about. Each one seemed to have the power of life or death. And then soon there was organized killing of great bodies of men. These people were being killed by rifle fire and machine guns principally. Also we knew are groups of several hundred being buried to death."The massacre is just part of the brutality of Japanese troops during WWII. In Nanking they also committed countless cases of rape, looting and arson and burned one third of the city to the ground.

According to the latest research conclusions, Japanese troops committed 173 cases of organized killings in which casualties topped 800 each.

Over the course of 14 years of war, China suffered a total of 35 million military and non-military casualties, accounting for a third of the total casualties of all the countries in WWII. The occupation of Nanking and the massacre was the most-discussed war crime at the Tokyo Trial where Japanese war criminals were convicted. However, the trial did not thoroughly expose Japanese militants' overall crimes and the nature of their invasion of China. Right-wing Japanese nationalists refuse to recognize the numbers of victims, discredit survivors, and claim that the Nanking massacre was entirely fabricated.

Diana Lary, Emeritus Professor of History at the University of British Columbia in Canada, says Japan's denial of its wartime atrocities is very insulting.

"The Japanese, officially, they sort of come up with the idea that it's not in Japanese culture to apologize which I find ridiculous. A lot of people (in Japan) would say we really suffered more than anyone else because we were bombed by the atomic bomb and by conventional bombing. To me that's irrelevant because they still have to recognize what happened. In China, people always use the word'Bu Chengren', won't admit', and that's very insulting to China, Korea and the other places they occupied. It simply makes it very difficult for Japan's neighbors to deal with her."Besides the killings, Japan is also trying to conceal its wartime medical crimes including those committed by Unit 731, the Japanese army's biological warfare division headed by the infamous Shiro Ishii.

But that didn't stop conscientious people from exposing the truth of how the illegal human experimentation had helped Japan's military aggression.

Yutaka Mio was the first Japanese to officially testify on the Japanese army's biological warfare program in the 1930s. The former imperial police officer was stationed in Japan's puppet state of Manchuria during World War II.

"Those people transported to Unit 731 were all used for experiments. I am very sure about that. They could never get out of there alive. I was on a transport mission specifically for Unit 731. We sent 'Maruta' there.""Maruta" is the name given to the experiment subjects for Unit 731. They were civilians and prisoners of war from China, the Soviet Union, the Korean Peninsula and Mongolia.

At the base of Unit 731 in Harbin, these defenseless souls were killed through vivisection without anesthesia, bacterial experiment, weapon testing and other horrible experiments. At least 3,000 people perished at the hands of Japanese "scientists".

From 1931 to 1945, Unit 731 also waged germ warfare in China with Unit 1644. Studies by Chinese and foreign scholars suggest that the number of Chinese victims is around 270,000.

To destroy the evidence, the retreating Japanese invaders blew up the base when the Soviet army took Harbin in 1945.The terrible experiments remained secret for a long time after the war. Instead of being tried for war crimes, the researchers involved in Unit 731 were given immunity in exchange for their data.

But recently, more and more materials relating to Japan's illegal human experimentation in World War II have been disclosed, such as the live dissections of American prisoners of war revealed at the Kyushu University's Museum.

But the "State of Denial" continues. So the world has every reason to be on alert at a time when many Japanese politicians and cabinet ministers pay respect to convicted war criminals at least twice a year, when documents and school textbooks systematically water down that part of history, and when Japan's government and parliament constantly push for a greater military role overseas.

Back AnchorCRI's Xiao Yi with Part Three of our series on the war.

Russian Diplomat: Distortion of History IntolerableAnchorThe Russian embassy here in China is making the final preparations for Russian President Vladimir Putin's trip here to China this week to help commemorate the 70th anniversary of the end of the War.

CRI's Luo Wen reports.

ReporterEvgeny Tomikhin, Minister-Counselor at the Russian Embassy in Beijing, notes the victory in World War II came at a huge cost.

He says its the Russian government's goal to ensure that sacrifice is not forgotten.

"The effort to prevent the distortion of history has met tough challenges in recent years in some European countries, which regrettably, include some former Soviet states. If we sit back, our children will never know the truth. We must act firmly to stop it."It's estimated the war left more than 27 million people dead in Soviet Union.

The number of dead in China is believed to be around 35 million.

As part of the commemorations to mark the 70th anniversary of the end of the war, Chinese President Xi Jinping attended the military parade held in Moscow this May.

Russian President Vladimir Putin is making a reciprocal visit.

He'll be among 30 different heads of state to attend the events this coming Thursday.

Evgeny Tomikhin says the final preparations by the Russian side are already underway.

"According to the agreement reached by President Vladimir Putin and President Xi Jinping, the two sides have planned a series of joint commemorative events for this year. We are happy to see Chinese soldiers' participation in Russia's V-Day parade on May 9, and the Russian honor guards to take part in the September 3 parade has been in Beijing undergoing intensive training."Officials from Russia and China paused earlier this month to honor 29 Soviet pilots who were killed in Hubei's capital, Wuhan, while trying to defend the city from Japanese forces in the late 1930s.

This week will also include a Russian ship sail into the city of Dalian in Liaoning.

A ceremony is also going to be held in the city of Harbin in Helongjiang.

The city was once occupied by Japanese troops before being liberated by the Soviet Red Army 70-years ago.

Evgeny Tomikhin says both the Chinese and Russian governments are working to try to restore some of the monuments in northeast China connected to World War II.

"Most of the sites are located in China's Northeast. Some memorial halls, cemeteries and monuments for Soviet soldiers have been renovated. Renovation work is currently underway at China's largest cemetery for foreign troops in Dalian. It will end soon."More than 1.5 million Soviet troops helped push Japanese forces out of China's northeast a month before the end of World War II.

For CRI, I'm Luo Wen.

Cambodian police arrest 22 Chinese nationals for telecom scamsCambodian police have arrested 22 Chinese nationals in connection with a telecom scam being operated out of the country.

Ren Qian is CRI's correspondent in Cambodia.

"Police have seized a number of telephones computers and other electronic materials during the raid. Suspects often use overseas servers to make phone calls which make it more difficult for the Chinese police to trace them. They usually call their victims in China, claiming to be court or police officials, noting that the victims' bank accounts had been breached so that they have to transfer the money to a separate safe account."This is not the first telecom scam involving Chinese suspects in Cambodia.

In September of 2013, Cambodian police arrested 61 Chinese nationals in connection with a similar scam.

Mass protests against Japan's security billsMassive protests have taken place in Tokyo this weekend, with opposition parties protesting Prime Minister Shinzo Abe's new defense policies.

An estimated 120-thousand gathered outside the parliament this weekend, demanding lawmakers scrap plans to amend the constitution to allow for an offensive military force.

Long-time lawmaker Ichiro Ozawa, the man dubbed the "shadow Shogun" because of his back-room influence, is among those calling for Shinzo Abe's removal from office.

"No matter what, we will join hands to stop this ridiculous, stupid, and dangerous law from passing, and let us bring down the Abe administration."Protest organizer Mami Aoji says she believes there is a dangerous trend emerging in Japanese politics.

"If I were to describe Japan with one phrase, it would be 'a peaceful nation.' But, right now, the unimaginable, the unrealistic is happening, where peace is being destroyed. That fear is being cast upon this nation right now."A series of bills which will allow Japan's armed forces to fight overseas are now being reviewed by the upper chamber of the Japanese parliament.

It's expected they'll pass before the current parliamentary session ends on September 27th.

Pressure mounts on Malaysian PM as protests spill into second dayMalaysian Prime Minister Najib Razak is calling on Malaysians to unite to resolve their problems.

This follows a second day of protests against his administration connected to a financial scandal.

"We reject any form of street demonstration that will threaten the peace and trouble the people, because it is not the right channel to voice their concerns in a democratic state. Just like we know that what happened over the last two days, it was not sensible."Thousands of protestors came together over the weekend in Kuala Lumpur, demanding Razak's resignation amid new allegations of embezzlement.

Leaked documents in July show Razak received more than 600-million US dollars in his private accounts from entities linked to indebted state fund 1Malaysia Development Berhad.

He later claimed the money was a donation from the Middle East.

Najib Razak has since fired his deputy and four other cabinet members, as well as the attorney general investigating him.

Despite calls for his resignation, Razak says he plans to remain on as Prime Minister.

Thai Police Widen Search for Attack CluesThai police are widening their search for more suspects following the arrest of a man in connection with this month's bombing in Bangkok.

Thai police spokesperson Prawuth Thavornsiri says they remain convinced the bombing is part of a larger conspiracy.

"This is all the evidence we got: DNA, all the evidence for cross-checking, chemical tests, bomb debris. We are cross-checking everything. Today you, the media, want more information, so I am giving you preliminary information. We still have to work out the details but we are certain he is part of the network, definitely."Few details about the suspect currently being held in military custody are being made available.

Thai authorities have not revealed whether the suspect is a foreign national or not.

Police in Thailand have been insisting the suspect who placed the bomb at the Erawan Shrine in downtown Bangkok is a foreign national.

The explosion two weeks ago killed 20 people and injured over 120 others.

Seven of the dead are Chinese nationals.

Three Syrian migrant children "disappear" from Austrian hospitalAnchorPolice in Austria say three Syrian children and their families who were discovered in a mini-van packed with 26 asylum seekers have "disappeared" from the hospital where they were being treated.

CRI's Poornima Weerasekara has more.

ReporterThe children and their families vanished from the hospital in the town of Braunau am Inn, near Austria's border with Germany, sometime on Saturday.

Austrian authorities think the families may have taken the critically ill children and tried to cross the border into Germany rather than face deportation.

The three children - two girls and a boy aged between one and five years -- were hospitalized with severe dehydration.

Dr. Uwe Wintergerst, head of the Pediatric Department at St. Josef's Hospital says the children were in a stable condition when they disappeared.

"The children had traveled for 20 days. As a result of a lack of food and drinks, they were dehydrated and so we took them in, gave them liquids intravenously and at night they were stable enough to be able to make the decision to leave the hospital."The kids were crammed in the back of a tiny Minivan along with other migrants from Syria, Afghanistan and Bangladesh.

They were found almost unconscious after Austrian police finally managed to stop the minivan after giving chase for almost an hour.

Austrian Police spokesperson David Further says the conditions inside the minivan were deplorable.

"So now you see here, this Spanish mini-van, and the driver was a Romanian, 29-years-old, he is now kept in jail, and you see the conditions inside, of this mini-van, so normally you don't even keep animals like this."It's believed the asylum-seekers began their arduous journey in Hungary.

The minivan full of would-be migrants was discovered a day after Austrian police found 71 suspected migrants were found dead in an abandoned food truck that also originated in Hungary.

Hungarian police have arrested four Bulgarians and an Afghan man in connection with that discovery.

Hungary has turned into a hot-spot for people smugglers.

The Red Cross says the situation has worsened after Hungarian authorities began constructing a 175 km razor-wire barrier along its border with Serbia.

French Prime Minister Manuel Valls is among a growing number of politicians in Europe who are criticizing the anti-immigration policies of Hungary and other countries in the Balkan region.

"Those fleeing war, persecution, torture, oppression must be welcomed. It is a universal principal of humanity. So, each asylum request must be examined quickly."It is estimated a record 107-thousand-500 migrants crossed into the EU this past month alone.

The governments of Germany, France and the UK are demanding an emergency meeting of EU interior and justice ministers this week to "find concrete steps" to solve the issue.

For CRI I'm Poornima WeerasekaraEgypt to hold parliamentary electionEgyptian authorities have outlined how the forthcoming parliamentary elections will take place across the country.

Ayman Abbas with the Egyptian Elections Committee says they plan to stagger the vote.

"Voters outside of Egypt will vote in a first stage on Saturday and Sunday October 17 and 18 2015 and voters inside of Egypt will begin voting on Sunday and Monday October 18 and 19 2015."A second stage of voting will also be held in November.

Egypt has been without a working parliament since June of 2012 when a court dissolved the session, which was dominated by the now-banned Muslim Brotherhood.

President Abdel-Fattah al-Sisi has made the pledge to hold parliamentary elections after delaying the vote earlier this year.

Al-Sisi hasn't had to deal with lawmakers since taking office last year following the ouster of Islamist President Mohammed Morsi.

South Korea Seeks to Attract More Chinese TouristsSouth Korean authorities are back on tour here in China, hoping to attract more Chinese visitors to bolster the country's dwindling tourism figures.

Kim Jong, South Korean vice-Minister of Culture, Sports and Tourism, is in Beijing as part of a promotional tour.

"In order to restore the tourism market, the South Korean government has exempted Chinese group tourists from paying visa fees and simplified tax rebate procedures for them."Jong Chang Soo, head of a South Korean tourism organization, says they have been closely studying Chinese travel habits.

"Chinese tourists are more diverse than before. Stats show most Chinese travellers to South Korean are female in their 20s and 30s, while the rise in the percentage of Chinese hiking and golf amateurs visiting South Korea is also notable."China is South Korea's largest source of tourists.

Around 6 million people from China travelled to South Korea last year.

However, Chinese travel to South Korea contracted by around 50-percent in June and July because of the MERS outbreak.

WeatherBeijing will see moderate rain with a high of 26 degrees Celsius.

Overnight temperatures should drop down to 18.

Shanghai will be cloudy with a high of 31 and a low of 24.

In Chongqing, it will be cloudy during the daytime with a high of 33 and lows of 24.

Elsewhere in the world, staying here in Asia,Islamabad will see slight rain with a high of 35.

Kabul will be cloudy with a high of 26.

Over to North America,New York will be overcast with a high of 33 degrees.

Washington, slight rain with a high of 32 degrees.

Honolulu, slight rain, 28.

Toronto will be overcast with a high of 29 degrees.

Finally, on to South America,Buenos Aires will have slight rain with a high of 20.

And Rio de Janeiro will be cloudy with a high of 30 degrees Celsius.

Headline newsJournalist, securities regulatory official held for stock market violationChinese authorities are holding several people in custody for alleged stock market violations.

One of them is Wang Xiaolu, a journalist with Chinese business publication Caijing Magazine.

He has been placed under "criminal compulsory measures" for allegedly spreading fake information on the securities and futures market.

Liu Shufan, an official with the China Securities Regulatory Commission, is also being held on allegations of insider trading, bribery and forging official seals.

Authorities are also holding four senior executives with CITIC Securities for suspected insider trading.

Back to school after Tianjin's deadly blastsSchools in Tianjin's Binhai New Area, the district where this month's deadly explosions took place, are set to open today for the autumn semester on-time.

The district government says registration work is now complete for classes to start.

Meanwhile, the official death toll from the explosions has been shifted up to 150.

23 others are still listed as missing.

367 people remain in hospital, including 20 in critical or serious condition.

The explosions at the Port of Tianjin is one of China's worst industrial accidents in years.

At least 11 government officials have been detained and face charges of dereliction of duty and abuse of power.

A dozen people connected to the company which owns the warehouse at the center of the blast are also facing charges.

120,000 protesters surround Japan's Diet against security billsMassive protests have taken place in Tokyo this weekend, with opposition parties protesting Prime Minister Shinzo Abe's new defense policies.

An estimated 120-thousand gathered outside the parliament this weekend, demanding lawmakers scrap plans to amend the constitution to allow for an offensive military force.

A series of bills which will allow Japan's armed forces to fight overseas are now being reviewed by the upper chamber of the Japanese parliament.

It's expected they'll pass before the current parliamentary session ends on September 27th.

Youngest Chinese Keener entrepreneursNew analysis is suggesting the post-90's generation in China are more prone to job-hopping.

A joint survey conducted by online sites Linked-In and data100.com shows the average Chinese employee born after 1990 is going to quit their job in less than 2-years.

The average of 19-months is well beyond the 27-months someone in the post-80's generation will stay on a job.

The same analysis is also suggesting the post-90's generation is gravitating more toward starting their own business.

Catering, e-commerce and clothing are said to be the top 3 choices for self-startups among China's post-90's generation.

Biz ReportsMarket PreviewAnchorTurning onto business news. First let's get a preview of what we can expect on the markets this week.

ReporterAugust is coming to an end tonight, leaving investors looking forward to September.

Here in China, August manufacturing PMI will be due out tomorrow.

Most observers expect the figure to come in at 49.7, which still indicates contraction in the manufacturing sector.

The mainland markets will be closed on Thursday and Friday for the holiday to commemorate the end of the War.

Hong Kong will also be closed on Thursday.

In the United States, observers will be keeping a very close eye on the nonfarm payroll and unemployment data for in August, which will be coming out on Friday.

The figures may give a bit more indication about whether or not the US Federal Reserve is going to raise interest rates in September.

North of the 49th Parallel, Statistics Canada is set to release its GDP data on Tuesday.

That country's economy is expected to have contracted in the second quarter, though less than 1-percent.

Canada's economy has been struggling due to lower commodity prices and slack consumer spending.

The European Central Bank's is set to make a decision on whether or not it will move its key interest rate on Thursday.

The ECB is also expected to trim down its inflation forecast, on the back of weaker commodity prices and slowing growth in emerging markets.

On the corporate front,On Tuesday, US discount retailer Dollar Tree is due to release its second-quarter profit report.

On Wednesday, Canadian department store chain Sears Canada will also put out its Q2 figures.

On Thursday, mining equipment maker Joy Global will be putting out its third-quarter revenue and profit report.

Investors will be hoping to glean details of the company's full-year profit expectations, as it gets more than 60 percent of its revenue from coal miners.

More lock-up shares to become tradableLock-up shares worth around 44 billion yuan, or around 7-billion U.S. dollars, are set to become tradable on the Chinese stock markets this week.

Nearly 3 billion shares from 15 different companies are set to be unlocked in both Shanghai and Shenzhen.

Under the Chinese market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before they are permitted to trade.

AVIC Capital is going to see non-tradable shares worth around 25 billion yuan become tradable in Shanghai later this morning.

This comes on the heels of the Chinese markets undergoing a roller-coaster ride this past week.

Shanghai lost around 15-percent of its value through Monday and Tuesday, but made up around 10-percent in Thursday and Friday's trading.

China removes regulation on loan-to-deposit ratioAnchorChinese authorities have confirmed the current loan-to deposit ratio for commercial banks is going to be lifted.

The 75-percent ratio is going to be eliminated as of October 1st.

Under the current rules, commercial banks in China are only allowed to use 75-percent of the deposits they have on-hand for lending.

Eliminating this restriction is expected to pump hundreds of millions of dollars into the system.

The 75-percent was first established 20 years to prevent an overheating of the credit system, as well as to control liquidity.

For more on what these changes might mean for the economy in China, we're joined on the line by Mike Bastin, director of China Business Center based in London.

Q1. Why China lift the 75-percent loan-to deposit ratio requirement at this time?

Q2. What does the cancellation mean to the banks themselves, to the stock market, and to the real economy respectively?

Q3. Will the banks see much more loans after the requirement is scrapped? Non-performing loans of Chinese banks are on the trend of rising, so will there be more bad loans?

Back anchorMike Bastin, director of China Business Center based in London.

Moody's predicts China property market recoveryRatings agency Moody's has released new analysis of the Chinese property market, suggesting the downward pressure on home prices are going to ease the rest of this year.

Moody's says it anticipates first-tier cities, including Beijing, Shanghai and Guangzhou, will see a recovery in prices.

It also anticipates certain tier-two cities, including Hangzhou and Xiamen, will also see price increases as inventories begin to dry up.

The expectations come amid the continued decline in new starts and land transactions.

But at the same time, Moody's is warning the depreciation of the renminbi is going to create new challenges for Chinese property developers, given their significant exposure to foreign-currency debt.

S. Africa to impose tariffs on steel imports from ChinaSouth Africa's government is set to slap a 10-percent import tariff on certain Chinese steel imports.

This comes amid heavy pressure by South African labor unions on the government, who argue Chinese steel imports are stripping jobs.

The country's steel industry has been suffering.

Over-capacity and a downturn in the global markets is being blamed.

Chinese authorities have yet to respond to the South African government's decision.

Chinese jack-up gas platform to export to MexicoA Chinese engineering firm is preparing to sail a new off-shore gas rig to Mexico this coming month.

Yantai CIMC Raffles Offshore Company is shifting the "Agosto 12" rig to an oilfield in the Gulf of Mexico.

The rig itself is going to be run by a Mexican consortium.

It's expected to be operational before the end of the year.

"Agosto 12" is designed to remain operational for at least 25-years.

The rig itself was designed and manufactured here in China.

China Construction Bank H1 profits edge upChina Construction Bank is reporting a nearly 1-percent year-on-year profit increase through the first half of this year.

The company's net profits have come in at around 130 billion yuan, or around 20-billion U.S. dollars, through the first 6-months.

Construction Bank's revenues came in at more than 300 billion yuan through the same period.

But at the same time, the bank's non-performing loan ratio continues to climb, coming in at 1.4 percent as of the end of June.

This is up 0.2-percent from the end of last year.

SportsGermany's Molitor beats China's Lv with last throwThe IAAF world championships here in Beijing have come to an end.

On the final day of competition, it was China's Lv Huihui taking silver medal in the women's javelin with a new Asian record of 66.13 meters.

"After the 2012 Olympics, my coach stipulated a detailed training plan for me in every year, like 2013, 2014, this year and next year. So it is not a surprise that I can throw such a good result."In other action,China's Zhang Guowei has been forced to settle for silver in the men's high jump.

"Yes, it's a big pity. I feel very sorry that I didn't meet the expectations of my fans. I will work harder and try to do a better job in the future."It was a Canadian high-jumper taking the gold.

------------In the marquis event of the day, it was LaShawn Merritt taking the last leg to lead the United States to a sixth successive world 4x400 meters relay title.

"We didn't have the best of championships as a whole. But each individual I can bet came out and gave it their all. Giving it your all doesn't always mean bringing home a gold. You leave here. And you work on something. You get ready for next year - Rio."Kenya has earned the top spot at this year's IAAF Championships, topping the medal standings with 7 golds, 6 silvers and 3 bronzes.

Jamaica came in 2nd, followed by the United States.

China finished up in 11th place with 1 gold, 7 silver and 1 bronze.

China beats Bahrain 3-0 in warmup for AFC U-23 ChampionshipsIn football,China's national men's team has beaten Bahrain 3-nil in a warmup for the AFC Under-23 Championships in Luoyang.

Liao Lisheng from Chinese Super League champions Guangzhou Evergrande scored twice in the victory.

Another friendly between China and Bahrain will be held in Shenyang on September 4th.

The AFC U-23 Championships are set to take place next year in Qatar.

---------In English Premier League action,Swansea has upset Manchester United 2-1 with a pair of back-to-back 2nd half goals, giving Man-U its first loss of the season.

Swansea manager Garry Monk.

"I thought we scored the goals at great times and they were good finishes as well. I thought that ultimately we had the best chances in the game and there weren't too many chances from either side but when we did get the chances we were very clinical which is pleasing."　In other action on Sunday,It was Southampton over Norwich 3-nil.

Southampton did it without midfielder Victor Wanyama.

Southampton manager Ronald Koeman.

"It's a difficult situation because Victor mentioned by himself that he's not with his mind to the team. He did training last Friday and of course today it was also so important to play with players that were really committed to the team and really focused on today and the situation with Victor is that he has lost some focus to the team and to the club and that was the reason that I took, finally to keep him out of the squad for today."Manchester City remains on top of the league standings with 12 points, followed by Crystal Palace and Leicester City.

China downs Cuba at women's volleyball championshipsIn volleyball,China's women's squad has made short work over Cuba at this year's World Cup in Japan, downing the Central American squad 3-nil.

The victory leaves China with a 5-1 record at the tournament.

It's also the Chinese women's 5th consecutive win over Cuba.

Next up for China is Kenya.

The Kenyan's women's squad went down to the Americans 3-nil last night.

Team USA is the only team to beat China so far at the tournament.

In other action,It was Russia blanking South Korea 3-nothing.

And hosts Japan dumped Peru 3-nil.

Women's basketball: China Beat South Korea 74-58In basketball action from Asian Women's Championship in Wuhan,It was China dispatching South Korea 74-58 last night.

The victory is the 2nd in a row for China.

The winner of the 12-team tournament in Wuhan will automatically qualify for next year's Olympics.

China will be looking for its 3rd win in a row tonight when they take on India at 7:30pm.

India comes into the game tonight on the back of 100-point loss to Japan last night.

Defending champs Japan humiliated India 131-31.

In other action,It was Taiwan embarrassing Thailand 113-42.

Hong Kong downed Sri Lanka 72-52.

Kazakhstan upset Malaysia 73-65And it was the Philippines edging North Korea 68-67.

--------------In off-court basketball news,Chinese men's Olympic team forward Guo Ailun has returned to the national team.

The 21-year-old has begun training again after being sidelined with an injury.

He's expected to be available for the Asian Championship next month.

Players preview US OpenIn tennis,A pair of Chinese women have made it through qualifying for this year's US Open.

Zhang Saisai and Wang Qiang have managed to make it into the draw.

Zhang is set to battle American Madison Brengle in round 1, while Wang Qiang will be up against a Greek qualifier.

Meanwhile, it's been announced that world number-2 Maria Sharapova will not be taking part in this year's US Open.

She remains hobbled with a leg strain.

This should make it easier for world number-1 Serena Williams to complete her run of Grand Slam victories in a calendar year.

"I think Wimbledon gave me unbelievable practice for this. At Wimbledon I was going for the second Serena Slam. That is rare. So, yeah, that really gave me the best practice and preparation in terms of going for the Grand Slam."Another Grand Slam singles title will put Williams only two back from Margaret Court's record of 24 career Grand Slam titles.

A victory at Flushing Meadows will also make her the first woman since Steffi Graf did it in the late 80's to complete the Grand Slam sweep in a calendar year.

---On the men's side,Hoping to return to form after coming off injury is two-time US Open champion Rafael Nadal.

"Last year I missed the tournament so for me it's very special to be back. It's a tournament that I've had very positive feelings [about] the last couple of years, and New York is just very, very special for me and I'm going to try to be ready for it."The US Open begins later on today.

Belgium's Thomas Pieters secures first European Tour titleIn golf,Jason Day has earned another blowout victory over a world-class field, winning this year's Barclays.

Fresh off his first major at the PGA Championship, Day pulled finished with a final round of 8-under, earning a 6-shot victory over Henrik Stenson.

Day closed with a 63-62 weekend and finished at 19-under.

He won two weeks ago by three shots over Jordan Spieth with a record to par at 20-under 268.

The victory moves the 27-year-old Australian to the top of the FedEx Cup after the opening playoff event, assuring he'll be among the top five who have a clear shot at the 10 million US dollar bonus at the Tour Championship.

In Europe,Belgium's Thomas Pieters has won the Czech Masters, finishing at 20-under-par.

"Right now it means everything. Obviously you work for it all year long - and up until now my whole life - just to be a European Tour winner is just an amazing feeling right now. And happy that I have my family here... and I thought I played very well after making that early double (bogey). So, proud of the way I fought."This is Pieters' first European Tour title.

EntertainmentTang Yan to Join Lee Min Ho in "Bounty Hunters"Chinese actress Tang Yan has announced that she will join the cast of the Chinese-Korean movie "Bounty Hunters," alongside Korean star Lee Min Ho.

Bounty Hunters is an action-comedy that follows five bounty hunters.

But Tiffany's role has yet to be announced.

The film is a project of Korean director Terra Shin, who shot to fame after directing the popular drama 7th Grade Civil Servant in 2013.

The script is penned by Edmond Wong, the screenwriter behind the famous Ip Man film series.

Expected to begin filming on September 2, Bounty Hunters will shoot in China, Korea, Thailand, and other Asian countries.

Bounty Hunters will not be Tiffany's first time acting with Korean artists.

Her most recent tele-series, Diamond Lover, features Korean entertainer Rain.

Cambridge graduates crowned Miss Hong Kong 2015Louisa Mak, a 23-year-old law graduate from Cambridge has been crowned Miss Hong Kong 2015.

She won 925,173 fan votes also won the Miss Photogenic award.

Ada Pong was the first runner-up and Karmen Kwok was named the second runner-up.

Winners were selected from twelve finalists based on a combination of votes from viewers and the decision of a panel of celebrity judges.

Michael Jordan's 'Space Jam' Uniform to Be Up for AuctionFans of the 1996 classic "Space Jam" are getting ready to bid for Michael Jordan's Tune Squad jersey.

It will be up for auction on Oct. 1.

Los Angeles-based Profiles in History, which also headed the auctions of items from "Glee," "Mad Men" and more, is handling the auction.

Jordan wore the uniform during the climatic showdown between the Tune Squad and the villainous Monsters to win the Looney Tunes' their freedom.

Along with the jersey, complete with the Tune Squad logo, the package also comes with a matching pair of size 38 shorts.

The auction house estimates the jersey could go for a price between 10,000 to 15,000 US dollars.

"Space Jam" was a super hit when it debuted in the mid-'90s, pulling in 230 million US dollars worldwide to become the highest-grossing basketball movie of all time.

Justin Timberlake to star in 'space-age musical'

Justin Timberlake is teaming with Oscar-winning director Jonathan Demme for a concert film showcasing his 20/20 Experience World Tour.

Demme shot Timberlake's final two concerts on January 1 and 2 at the MGM Grand in Las Vegas and is set to be editing the footage this fall.

The 71-year-old filmmaker, who won an Academy Award for Silence of the Lambs, is well-known for putting rock concerts on the big screen.

He pioneered the genre with the 1984 Talking Heads concert film Stop Making Sense.

He's also partnered with Neil Young for a music film trilogy and directed music videos for New Order and Bruce Springsteen.

His most recent project has been the Meryl Streep starrer Ricki and the Flash.

Taylor Swift Joined by Avril Lavigne and OMI at San Diego 1989 ConcertFollowing a misunderstanding with Swift on social media earlier this week, Avril Lavigne appeared on stage swift on August 29.

The duo sang Lavigne's 2002 breaking hit "Complicated" in front of thousands of screaming fans in San Diego.

Lavigne also posted pics from the event on her Instagram, a sign that her twitter war with Swift has come to an end.

Meanwhile, Swift also welcomed Jamaican singer OMI for a performance of his wildly catchy hit "Cheerleader."Other surprise guests on Swift's current 1989 tour have included Selena Gomez, Fifth Harmony, and Nick Jonas.

Swifts next stop is Salt Lake City on Sept. 4.

That's it for this edition of the Beijing Hour.

Recapping our top stories this morning...

A number of people are being detained in connection with the recent downturn in the Chinese stock markets.

Chinese lawmakers are reviewing a new report into water protection across the country.

Massive demonstrations have taken place in Tokyo connected with the government's new defense policies.

In Business... around 7-billion US dollars worth of shares are set to become tradable later this morning on the mainland markets.

In Sports... This year's IAAF Championships here in Beijing have come to an end.

On behalf of the Beijing Hour staffers, this is Paul James in Beijing hoping you'll join us for our next edition of the Beijing Hour to open a window to the world together.